Hi guys. I just had a conversation with a friend of mine who worked in Greece last year , and he is not greek citizen. He told me that he is not able to take his money out of the country because of some regulations , which happened after the crisis. And now many greek people havethe same problem . They are not allowed to use their money out of the country. I was thinking is it possible that some 1 show them the possible solution of DASH. As few pages ago ,Tante was writing , that the need of our product , can make it more popular i can see the opportunity in this situation. Do you have any ideas how this can be done?
Yeah, it's not regulations, it's capital controls. Banks run out of euros.
1) What type of money are we talking about? 1k, 5k, 20k, 100k?
2) I'm asking (1) because, right now, bank withdrawals are like 400+ euro per week, so that's 1600+ per month, so if he was here in Greece, he would be able to withdraw at least as much. If he isn't here, he can use someone who is here and an ATM card to withdraw the money for him and then get it out with various methods. 1 month = 1600+, 10 months = 16.000+.
3) As for DASH or BTC, it would be possible in the following way: Find a Greek who is willing to sell DASH or BTC for a bank deposit in his account. Then your friend wires the money to that BTC/Dash seller and he gets BTC/Dash in exchange. This scenario sounds unlikely though, as most wouldn't trade their crypto for money in a bank account that can be withdrawn very slowly. Also there is risk of scam (seller of DASH/BTC keeps the money and doesn't give DASH/BTC).
The problem with Greek capital controls is that Greece has the euro as its currency. What that means, is that when the country run out of euros, it did not hamper only international transactions but also local liquidity. Most countries which have their own currency and which happen to run in foreign exchange reserves deficit, will simply impose capital controls on good imports, bank capital exports etc. Capital controls won't affect local liquidity in local currency, thus in these cases the local economy can still trade local currency with BTC and then BTC can be used for cross-border trade. For Greece its different because euro is both the national currency and the foreign exchange currency - so when it runs out, both "wells" dry up, so when you don't even have cash in hand, and when your bank deposit is next to useless, how can you buy crypto?
4) Another option for taking the money out, is to find a local company that sells assets and accepts money in their bank account as payment, instead of cash. An asset can be anything valuable*. So, you go to a car dealer, buy a used expensive car, drive it out of the country, sell it in Italy or Germany and cash out. The risk of losing resale value is low because car prices are probably lower here right now than other places in Europe. Solutions 2 and 4 don't involve DASH.
* Some were buying jewelry but this is wrong because they are veeeery overpriced compared to their metal composition.
